we are flat | 06 December 2021

Technical observation

EUR is trading with an increasing bullish bias below the resistance zone 1.1382-1.1372, my expectation is a rise to the same zone followed by a bounce within it to short EUR towards the supportive 1.1193. My advice, remain flat and wait for a correction to the zone 1.1382-1.1372 then sell a bounce within it with your take profit at 1.1193 and stop loss at 1.1444. In case of a breakout above the zone 1.1382-1.1372 with a big green candle, I anticipate possible bullish movements towards the resistance level 1.1518, however, as long as price is sustained below the same zone I can only recommend bearish positions for the pair above.

Trade recommendation

Remain flat.